Sanderson Design: value-enhancing corporate activity

Sanderson Design (LSE: SDG) are 76p with a mkt cap of £55.6m. The improved Interims to July were reported on Monday but have deeper significance, as a c. 12% shareholder requisitioned an EGM, which is to be held on Thursday 29 October. It is to replace a member of the Board as an act of dissatisfaction with the Company’s performance. The interims, however, reported a 47% PBT improvement to £3.3m, with revenue up 6% to £51.4m, and strong North America growth of 16% more than offset UK softness. The new Direct to Consumer strategy saw a 137% increase in revenue and the high margin licensing inco...